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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money congress has already borrowed. president obama explained to the american people today how republicans in congress are trying to avoid doing their actual jobs. >> these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they've already racked up. >> if the american people do not catch on to the severity of all of this, of defaulting on our debts, the cou
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to tax and spend to the congress, and the congress alone. our current deficit is the result of money...
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Jan 15, 2013
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ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or magic credit card for the president to go spend whatever he wanted to spend. of course, the united states constitution gives the power to spend to congress. the result is the money congress has already borrowed. president obama explained to the american people in congress how they're trying to do their actual jobs. >> these are bills that are racked up. and we need to pay them. so while i'm we'illing to find compromise on how to pay our debts, americans should not be stopped from paying the bills we racked up. >> the country will be in a dire situation. president obama knows
ceiling. >> now the other imposition is called the debt ceiling. something most americans had not heard of before two years ago. so i want to be clear about this. the debt ceiling is not a question of authorizing more spending. raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. >> and of course republicans tried to trick americans into believing the debt ceiling was a blank check or...
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Jan 19, 2013
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president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> republicans made their choice today during a gop retreat in williamsburg, virginia. house majority leader eric cap tore reportedly announced plans to pass a bill extending the debt limit for an additional three months. it's the clearest signs yet republicans have no intention of ever defaulting on the country's debt. in a statement the white house responding, saying, we are encouraged. there are signs congressional republicans may back off their insistence on holding our economy hostage to extract drastic cuts in medicare, education and programs middle class families depend on. the temporary nature of the increase is somewhat troubling. a white house official told nbc news it's a terrible way to run the country. but the aid
president obama warned republicans about taking the debt ceiling hostage. it looks like they heard the message. >> the financial well-being of the american people is not leverage to be used. the full faith and credit of the united states of america is not a bargaining chip. and they better choose quickly because time is running short. >> republicans made their choice today during a gop retreat in williamsburg, virginia. house majority leader eric cap tore reportedly announced plans...
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but they want it separated from debt ceiling. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that the republican decision or is it going to be played, conflict in washington, gridlock, both parties to blame? >> well, the president said in the press conference i think people will blame all of washington, but he didn't mean it. and he doesn't believe it. he thinks, and i think rightly thinks, that the political onus will be on the republicans. the president said we aren't a deadbeat nation, which is one of many great quotes in that press conference. >> i like that word, deadbeat. >> we aren't a deadbeat nation, and he said the republicans will turn us into a deadbeat nation if they do what they're threatening -- >> if somebody else objects to the question, if there's a different answer, i'll accept it. did the democrats ever play the game of not paying the bills of the united states government as
but they want it separated from debt ceiling. >> let's talk about this debt ceiling thing, howard. do you think the press objectively can report the way the president tried to sell it, which is if this government can't pay its debts, refuses to pay it because of the debt ceiling, is that the republican decision or is it going to be played, conflict in washington, gridlock, both parties to blame? >> well, the president said in the press conference i think people will blame all of...
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translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exactly. what the republicans are saying is look, we maxed out the credit card. it's time before we extend any new credit or allow any new credit to do something aboutbe the spending that got us here. that would seem on the surface to be a reasonable argument. but so far, the republicans have not been able to win it. and what tends to happen in the fights when you get all of this late hour melodrama as we have had in the last cou
translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has...
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Jan 20, 2013
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how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the american people said by god, get something done. >> are they right? >> look, it did work. boehner has also indicated he's not going to deal with the president one-on-one. they're going to go through the regular order. the senate is going to have to do something, the house is going to have to do something. they're going to meet in congress and send it to the presidency. i think the president's legacy to go big, to get a grand bargain, to have long-term economic growth but also to have a legacy of fiscal sustainability could be his major legacy piece. and i think even though he wants to do guns, even though
how are we going to see this ludicrous, childish behavior we saw over the debt ceiling argument, for example, come to an end and people get into a room and getting stuff done. that's the key thing, i think, for his second term. >> jamal alluded to a new strategy at the white house, which is going to be to go around congress and go directly to the american people. the white house believes the reason they got a deal in the 12th hour is because they went to the american people and the...
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Jan 16, 2013
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all with a man who said it's time to get rid of the debt ceiling. new york congressman jerry nadler is in the guest spot as we roll on for wednesday, january 16th. look what mommy is having. mommy's having a french fry. yes she is, yes she is. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servings in every little bottle. i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it stops heartburn fast. ♪ oh what a relief it is! is a fantastic experience. 30 shrimp for $11.99. i can't imagine anything better. you're getting a ton of shrimp, and it tastes really good! [ male announcer ] hurry in to red lobster's 30 shrimp for just $11.99! choose any two of five savory shrimp selections, like mango jalapeÑo shrimp and parmesan crunch shrimp. two delicious shrimp selections on one plate! all with salad and unlimited cheddar bay biscuits. 30 shrimp, just $11.99 for a limited time. wow, that's a lot of shrimp. i'm ryon stewart, i'm the ult
all with a man who said it's time to get rid of the debt ceiling. new york congressman jerry nadler is in the guest spot as we roll on for wednesday, january 16th. look what mommy is having. mommy's having a french fry. yes she is, yes she is. [ bop ] [ male announcer ] could've had a v8. 100% vegetable juice, with three of your daily vegetable servings in every little bottle. i'm up next, but now i'm singing the heartburn blues. hold on, prilosec isn't for fast relief. cue up alka-seltzer. it...
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Jan 20, 2013
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it's sort of been well, look, on the debt ceiling, no, i'm not going to negotiate. not a reaching across. >> well, the problem here is that republicans have never really paid a price for their intransigence. and in the first term the president came out and said you know what? let's work with republicans on the stimulus. let's work with republicans on all these other things. almost nobody came to the table. mitch mcconnell said his number one job was to dweelt presidetw obama. this time around the president is more muscular in the way he's trying to attack problems and get things done. so i don't think there's room to just, you know, skirt around the issues. he knows that his job is just get things done. and even if the republicans aren't at the table, he's just got to keep trying. >> also that there's a clock ticking. not fair to any second-term president, but this town has a six-year itch. democrats will be worried about midterms and then the 2016 thing starts. that 2016. >> it's pretty sad. you get four years and you really only get 18 months. something's wrong wi
it's sort of been well, look, on the debt ceiling, no, i'm not going to negotiate. not a reaching across. >> well, the problem here is that republicans have never really paid a price for their intransigence. and in the first term the president came out and said you know what? let's work with republicans on the stimulus. let's work with republicans on all these other things. almost nobody came to the table. mitch mcconnell said his number one job was to dweelt presidetw obama. this time...
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Jan 23, 2013
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rather than raise the debt ceiling, the bill temporarily suspends it. meaning a vote will be held at some future point to determine whether to pay off the debt retroactively. secondly, this is a larger scheme to move the battle over the deficit and spending to a place where the republicans feel they have more leverage. the gop hashed plans for a republican revolution. politico report s speaker john boehner, using paul ryan as his salesman, urged his members to make their stand on the budget and sequesters. jake sherman writes, in roughly 48 hours, the republicans went from defense to offense and retreated to the debt ceiling must be matched by spending cuts. it was the swiftest and most drastic position switch in boehner's speakership. it was not lost on kevin mccarthy who said, "what they'll say after that vote, this is the day of the comeback." maybe if comeback also conotes fractious and uncertain strategy. with no democratic support, the way could go the way of boehner's plan b if just seven republicans break rank. and they still have to contend wit
rather than raise the debt ceiling, the bill temporarily suspends it. meaning a vote will be held at some future point to determine whether to pay off the debt retroactively. secondly, this is a larger scheme to move the battle over the deficit and spending to a place where the republicans feel they have more leverage. the gop hashed plans for a republican revolution. politico report s speaker john boehner, using paul ryan as his salesman, urged his members to make their stand on the budget and...
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Jan 16, 2013
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ceiling and thereby cause an economic catastrophe. >> the process of raising the debt ceiling should not be used as a political weapon against the american people. >> and say a legislative relic has now been weaponized. >> megyn: well, that was a news conference a short time ago. house democrats hold ago news conference to abolish the debt ceiling even as we watch the debt race up to the 16.4 trillion dollar limit and we hear talk now about circles of whole new class of taxes that the american people may be saddled with. stu varney is varney and company on the fox business network. they're not the majority in the house, but there is he' a push to make them the majority in the house. and president obama is reportedly maneuvering in a lot of ways, politically now to try to set the democrats up to retake control of the house and there's a question about whether as soon as 2014, if they get their way, they're going to get rid of the debt ceiling. what would that do? >> what they want is unlimited borrowing by the administration so the treasury can say, i want to borrow, this, this, this,
ceiling and thereby cause an economic catastrophe. >> the process of raising the debt ceiling should not be used as a political weapon against the american people. >> and say a legislative relic has now been weaponized. >> megyn: well, that was a news conference a short time ago. house democrats hold ago news conference to abolish the debt ceiling even as we watch the debt race up to the 16.4 trillion dollar limit and we hear talk now about circles of whole new class of taxes...
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i'm not going to give house republicans anything for raising the debt ceiling. it's on them. if they want to take the heat for veterans benefits and social security benefits not getting to people, what game of chicken are we playing here? >> really high stakes game of chicken is what we're playing here. i had the occasion of going back and reading actually the president's first news conference after he became president, and he is talking then about his overtures to republicans and how he hopes he can create habits of good behavior. well, it's been four long years, and that was about the feistiest press conference spurred by nothing other than he just really wanted to send this signal once again. his message was i'm not backing down, and he is getting the message back from republicans that they aren't either. i think we're going to be asking ourselves which side is going to blink for the next several weeks. i don't know that -- i don't feel confident that i know the answer to that question. >> ruth marcus, thank you very much. kristen welker thank you, from the white house. >>
i'm not going to give house republicans anything for raising the debt ceiling. it's on them. if they want to take the heat for veterans benefits and social security benefits not getting to people, what game of chicken are we playing here? >> really high stakes game of chicken is what we're playing here. i had the occasion of going back and reading actually the president's first news conference after he became president, and he is talking then about his overtures to republicans and how he...
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rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment you get the credit card bill and it's the only moment. and if you can't have a sort of reckoning about your spending habits when you see your credit card bill you're never going to have that reckoning. i'm in favor of it. i'm in favor of any speed bumps towards more spending and this is as good as any. jon: the president was talking about it at his news conference the other day. i want to play something that he had to say and get your reaction. >> if congressional republicans refuse to pay america's bills on time, socia
rid of the debt ceiling. most countries don't have a debt ceiling. you still need votes from congress to authorize spending. you couldn't just borrow willy nilly anyway. the simple fact is the debt ceiling is the one time in the legislative process where you actually get a bill. everyone having all this contest of whose analogy is right, whether it's a family with a budget, whether it's this. or that, whether it's dining and dashing as the president likes to say. the debt ceiling is the moment...
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the big concern is debt ceiling talks in washington. federal reserve chairman ben bernanke says the debt ceiling law should be scrapped all together and outgoing treasury secretary tim geithner sent a letter to congress urging action, warning the treasury would run out of measures in february to keep the bills being paid on time. we're seeing some big moves in tech stocks, pc maker dell could go private, pushing the stock up in the premarket this morning, the rumors pushed the stock up 13% yesterday. dell's been struggling for years, once the pc king, it failed to get into the tablet and smartphone space and apple shares dived when it was a report iphone 5 sales could be falling off. >> that's surprising. >> if you look at my friends everybody likes the bigger screen. >> i thought you were going statistics. >> it's everything to do with samsung and less what the iphone looks like. >> people seem to like the bigger screens. i-phone is a tiny, tiny screen. >> can i get you on the record, in the end, will house republicans agree to raise t
the big concern is debt ceiling talks in washington. federal reserve chairman ben bernanke says the debt ceiling law should be scrapped all together and outgoing treasury secretary tim geithner sent a letter to congress urging action, warning the treasury would run out of measures in february to keep the bills being paid on time. we're seeing some big moves in tech stocks, pc maker dell could go private, pushing the stock up in the premarket this morning, the rumors pushed the stock up 13%...
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Jan 15, 2013
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the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in august of 2011 that got the u.s. downgraded last time. so it's very important. all these issues are important, but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government does not pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. it went part of the way, as you mentioned. but it leaves a number of issues still on the table and traditional negotiations are looming. would you characterize that as an additional cliff that is facing us? or do you think it
the debt ceiling -- raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it does not create new deficits. it does not create new spending. so not raising the debt ceiling is sort of like a family which is trying to improve its credit ratings and i know how we can save money, we will not pay our credit card bills. not the most effective way to improve your credit rating. it was a very slow solution to the debt ceiling in...
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Jan 18, 2013
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debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his name. let's tell you what drove the markets. mixed day on wall street with s&p and dow closing in the green. all three major indices ending the week higher. industrials and energy were today's top performing sectors while technology was the only sector ending the day lower. and oil ending the week in the green after the international energy agency raised its global oil demand forecast for the whole year. crude's settling the week up 2.1% at $95.56 a barrel and consumer confidence falling for the second month in a row, droppin
debt ceiling all together. liz: plus we have the bond king of canada who knows plenty about our markets. five years ago he said that investors had the opportunity of a lifetime to buy stocks, just as we hit bottom, and we saw that bubble explode. well, he was right. now, what is he saying? 2013 holds the second buy of a lifetime? what is it? and how can you take advantage of it? he is here to talk about it. david: liz has that interview all to herself because i can't begin to pronounce his...
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Jan 21, 2013
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debt ceiling, gun control on the agenda, the second term honeymoon is likely to end quickly. the president struck assertive tone in the inaugural address. >> we cannot substitute speck taggal for politics, or treat name calling as reasoned debate. >> the republicans in congress have been defined by the actions. that is why the polling numbers are poor. >> in an interview with the "washington post," white house communication director dan pfeiffer suggested mr. obama is worthy of the task, but republicans are not. "there is a moment of opportunity now that is important. what is frustrating is that we don't have a political system. or an opposition party worthy of the opportunity. pfeiffer told fox it was a message to the country, not just republican parties. but a key senator sounded troubled by a tone heading to a new term with the nation facing serious issues requiring leadership. >> both parties need to work together to solve big proble problems. the democrats need help from the president to lay out the issues and provide the ability they know what needs to be done. >> they
debt ceiling, gun control on the agenda, the second term honeymoon is likely to end quickly. the president struck assertive tone in the inaugural address. >> we cannot substitute speck taggal for politics, or treat name calling as reasoned debate. >> the republicans in congress have been defined by the actions. that is why the polling numbers are poor. >> in an interview with the "washington post," white house communication director dan pfeiffer suggested mr. obama...
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what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount of leverage and interconnected with everything else and sort of see what happened in 2008. it's also this issue of, you know, who gets paid? if you start to have to say maybe soldiers get paid but not paying for the fuel or these doctors will get paid, you know, government is a huge force in our economy. like it or not. and the number of companies that would really be affected from walmart to every defense contractor to giant health care companies, if their ability to collect money that is owed to them is then put in doubt, that triggers a whole, you know, range of activities of ot
what is failing to raise the debt ceiling? why is that going to be catastrophic? >> well, you know, first of all the stock and bond markets will really go haywire in a way they didn't when we were about to go over the fiscal cliff because government bonds are held by everybody. chinese central bank, japanese central bank, every single bank financial institution out there. so if there's any question over the value of those and they start to decline, these institutions have a great amount...
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Jan 17, 2013
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let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you ie mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress talk about an republican republicans drama. and every one of them has something to do with wanting ... and now you have to pay it. and you better pay and where your country is clearly facing a dire consequences. it shows that you don't give a whit about who's president. >> do you agree with the president and you think that we are risking what? a selloff in the market? 2001. >> what's going to happen if it comes to the worst case scenario here? >> somebody will say, don't forget, we all $16.4 trillion. half of that is owned by private p
let's talk about the debt ceiling debate. we are all focused on this week and the president has been talking about it. what is your view on whether spending cuts should be part of the debt ceiling debate? i think that would be a serious mistake. i'm a republican, i have been so since i voted for ike in 1962 and let me tell you ie mistake. you are not talking about one thing that has to do with cutting spending. you're talking about everything and he paying your debts of the guys in the congress...
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Jan 15, 2013
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raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. it is absurd. the full faith and credit of the united states of america is not a bargaining chip. and they had better choose quickly because time is running short. >> house republicans continued to threaten to use the debt ceiling as a bargaining chip. house republican conference chairwoman kathy rogers told "political" i think it is possible we would shut down the government to make sure that president obama understands that we're serious. well, i guess that would do it. we always talk
raising the debt ceiling does not authorize more spending. it simply allows the country to pay for spending that congress has already committed to. these are bills that have already been racked up. and we need to pay them. so while i'm willing to compromise and find common ground over how to reduce our deficits, america cannot afford another debate with this congress about whether or not they should pay the bills they have already racked up. but to even entertain the idea of this happening, of...
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Jan 19, 2013
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ceiling. in a big shift today, house republicans said they will vote to lift the limit for three months, but on the condition that the senate passes a budget. wall street liked this idea. the dow finished up almost 54 points to hit its highest closing level since december 10th of '07. nasdaq finished with a small loss. s&p 500 was up 5 points. also at five-year highs. >>> in washington tonight, it's starting to feel like a city that's about to host an inauguration. for the 57th time in the history of our republic, and host hundreds of thousands of people on a cold monday in january. our white house correspondent, peter alexander, is in lafayette park across from the white house, in front of the reviewing stand tonight. peter, good evening. >> reporter: brian, good evening to you. those are the best seats in the house, for a variety of reasons, including the fact they have heat. that's where the president and the first family will be watching monday's parade. the second obama inaugural is expec
ceiling. in a big shift today, house republicans said they will vote to lift the limit for three months, but on the condition that the senate passes a budget. wall street liked this idea. the dow finished up almost 54 points to hit its highest closing level since december 10th of '07. nasdaq finished with a small loss. s&p 500 was up 5 points. also at five-year highs. >>> in washington tonight, it's starting to feel like a city that's about to host an inauguration. for the 57th...
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Jan 23, 2013
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nobody put the debt ceiling or the u.s. willingness to pay its obligations on the table in the way it was placed in the summer of 2011 and the way i fear it is placed on the table again. it was a big mistake in 2011 to create this uncertainty and fear around the world and it is a big mistake to do it again today. >> what any good-thinking patriotic american want to use the debt ceiling as a vehicle to reduce spending? what would their reasoning be certainly not to embarrass the united states of america? >> i have no idea. but i can tell you -- >> if you don't have any, maybe it is to defeat the objectives that this president, at whatever cost some so-call leaders have said. they want to stop this president and they were unsuccessful in that measure. maybe they decided to change tactics and maybe this discussion is unnecessary and we find some other way to get a hand on the deficit. let me thank you to your contribution to this conversation as you have so many times before. i yield back my time. >> thank you, mr. johnson is
nobody put the debt ceiling or the u.s. willingness to pay its obligations on the table in the way it was placed in the summer of 2011 and the way i fear it is placed on the table again. it was a big mistake in 2011 to create this uncertainty and fear around the world and it is a big mistake to do it again today. >> what any good-thinking patriotic american want to use the debt ceiling as a vehicle to reduce spending? what would their reasoning be certainly not to embarrass the united...
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there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there are more than one battle happening. where do you think the negotiations should take place? should be the debt ceiling or the continuing resolution to fund the government or sequestration? caller: the continuing revolution to keep the government going -- resolution. there are many departments we don't need. i was showing my grandchildr the debt clock, telling him how much money he would know when he becomes a taxpayer. he said he does not want to become a taxpayer. this is taxation without representation. they have to get this under control. they need a dyiet. host
there's the debt ceiling, whether or not to raise the debt ceiling. some are talking about shutting the government down when the continuing resolution that authorizes spending for this government runs out, that he would negotiate then on this whole issue of spending cuts and new revenue. and if you cannot get a deal, then you let the government shutdown. some republicans are laying the groundwork for that. then you have the sequestration that was delayed under the fiscal cliff deal. so there...
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the debt ceiling, raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011 i got the u.s. downgraded last time. so it's very, very important that all these issues are important but it's very, very important that congress take necessary action to raise the debt ceiling to avoid a situation where our government doesn't pay its bills. >> a number of people have expressed concern about how much of the challenges actually were addressed in the deal. as you mention it certainly went part way but it leaves another the issues still on the table, and additional negotiations and are looking. would you characterize that as an additional clip that is facing us, or do you think that
the debt ceiling, raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay existing bills. it doesn't create new deficits. it doesn't create new spending. so not raising the debt ceiling is sort of like a family, which is trying to improve its credit rating sank i know how we can save money, we won't pay off credit card bills. not the most effective way to improve your credit rating. it was the very slow solution to the debt ceiling in august 2011...
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kristen hit on them there, gun, immigration, among the biggest, the debt ceiling and president obama has a lot offy second-term agenda, but many seem skeptical and in our latest wall street journal poll asked where america is headed, nearly 60% of the people polled used negative words like wrong track, downhill. joining me now to talk about all of this, christina antonio, political reporter, and ed o'keefe for "the washington post". good to have you guys in the flesh. usually it's in double boxes and this is a nice treat. >> let's throw another number on the screen, christina. this is the president's approval rating as he goes into his second term. right now, 52%, according to the poll, say they approve of the job that president obama is doing so far. how does that compare to other two-term presidents? >> he is not quite as popular as many other presidents and he's a little bit higher than george w. bush was going into his second term, but it really reflects that and when you look at the breakdown of the job approval rating and what people like, he's okay, just over the 50% mark in t
kristen hit on them there, gun, immigration, among the biggest, the debt ceiling and president obama has a lot offy second-term agenda, but many seem skeptical and in our latest wall street journal poll asked where america is headed, nearly 60% of the people polled used negative words like wrong track, downhill. joining me now to talk about all of this, christina antonio, political reporter, and ed o'keefe for "the washington post". good to have you guys in the flesh. usually it's in...
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i think what -- most countries in the world don't have a debt ceiling. when government -- when the congress and their equivalent appropriates the money, the government has the borrowing authority to pay for the imra money they borrow. ben bernanke said yesterday, we have to stop having these dibait overs the debt ceiling, it's a stupid idea. the head of the federal reserve. i think the democrats are frustrated. i think that's why they passed this bill -- >> neil: where was their frustration 7 years ago, when the folk who is were urging this very action today voted against raising the debt ceiling when george bush was president? where was the great constitutional resolve? >> i don't disagree with ow this. there are politics on both sides. i don't think anyone thinks this is going to pass. let's be clear. but there is growing frustration about the way the republicans are using this to go around the normal committee process -- >> neil: what were they doing seven years ago? were they going around the republican president to get their way? >> no. at the end o
i think what -- most countries in the world don't have a debt ceiling. when government -- when the congress and their equivalent appropriates the money, the government has the borrowing authority to pay for the imra money they borrow. ben bernanke said yesterday, we have to stop having these dibait overs the debt ceiling, it's a stupid idea. the head of the federal reserve. i think the democrats are frustrated. i think that's why they passed this bill -- >> neil: where was their...
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president obama tells congress we're not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more tonight on "n.b.r."! >> susie: the next big fight in washington has begun. president obama today called on republican lawmakers to authorize an increase in the nations debt limit, saying that messing with it could potentially have catastrophic results for many americans and the overall economy. he warned markets would go haywire if congress does not act, interest rates would rise, and checks to social security beneficiaries would stop. and he said even thinking about the u.s. not paying its bills is irresponsible and, "absurd". darren gersh reports. >> reporter: in his first news conference of the new year the presiden
president obama tells congress we're not a deadbeat nation, and they need to raise the debt ceiling now, so we can pay our bills on time. >> tom: i'm tom hudson. a sour day for apple investors. the stock tumbles to 11 month lows on new worries about waning demand for the iphone 5. >> susie: but a banner day for g.m., the cadillac ats takes car of the year at the big auto show in detroit, and its new corvette stingray wows gear heads around the globe. >> tom: that and more...
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raise the debt ceiling or risk a u.s. downgrade. >> markets are in a holding pattern until the debt ceiling fight is over and the backdrop for the fitch warning is quite different this time around, and pete will explain why in just a moment. just said to you during the break. a heck of a holding pattern if that's what the market is in. plenty of sectors hitting new highs right now. no question about it. this is the year that we springboard up now. not just to climb the wall of worry. get through the debt ceiling debate, continuing resolution. it's going to be bumpy. we'll take full advantage of a market falldown during that period because you've got three main things going for you. housing turning for real, not just an inventory real liquiification and foreclosures. all that have stuff turning for real. it will turn into unemployment back half of the year. a little better transparency on fiscal policy. not necessarily the fix but the transparency. business cap "x" second half of the year and every single central bank in t
raise the debt ceiling or risk a u.s. downgrade. >> markets are in a holding pattern until the debt ceiling fight is over and the backdrop for the fitch warning is quite different this time around, and pete will explain why in just a moment. just said to you during the break. a heck of a holding pattern if that's what the market is in. plenty of sectors hitting new highs right now. no question about it. this is the year that we springboard up now. not just to climb the wall of worry. get...
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a vote on the debt ceiling. we will get to john harwood in a moment on what it means for the white house and senate. but first, apple eamon javers on the hill. >> we expect it to pass, maybe tighter than republicans would like the vote count to be, but ultimately what the pleasure would do is extend the debt measure through to may 19th and politically what it does is rearranges the order of the fiscal fights we will have over the next couple of months and it means we will fight first over the sequester. remember that's that across the board budget cut postponed during the fiscal cliff fight in december and january. now that will be the first fight up at the beginning of march. republicans feel that that is a much more safe political ground for them to fight on than to fight over the debt ceiling which of course could threaten a default on the nation's obligations so we do expect this vote within the next couple of minutes here to pass by republicans, then it will go over to the senate side and the white house ha
a vote on the debt ceiling. we will get to john harwood in a moment on what it means for the white house and senate. but first, apple eamon javers on the hill. >> we expect it to pass, maybe tighter than republicans would like the vote count to be, but ultimately what the pleasure would do is extend the debt measure through to may 19th and politically what it does is rearranges the order of the fiscal fights we will have over the next couple of months and it means we will fight first over...
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we should extend if not end of the debt ceil i
we should extend if not end of the debt ceil i
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from the debt ceiling to the nra to the neocons. taking them on. the president is sticking it to his opponents, and he's winning. >>> and the house of representatives is voting on a relief package for the victims of superstorm sandy. will republicans stand up to help those hit by the storm? or stand in the way? >>> let me finish with a republican party that's beginning to sound and look like a pack of moonshiners. they don't like those revenuers. this is "hardball," the place for politics. with the spark cash card from capital one, sven gets great rewards for his small business! how does this thing work? oh, i like it! [ garth ] sven's small business earns 2% cash back on every purchase, every day! woo-hoo!!! so that's ten security gators, right? put them on my spark card! why settle for less? testing hot tar... great businesses deserve great rewards! [ male announcer ] the spark business card from capital one. choose unlimited rewards with 2% cash back or double miles on every purchase, every day! what's in your wallet? here's your invoice. ♪ [
from the debt ceiling to the nra to the neocons. taking them on. the president is sticking it to his opponents, and he's winning. >>> and the house of representatives is voting on a relief package for the victims of superstorm sandy. will republicans stand up to help those hit by the storm? or stand in the way? >>> let me finish with a republican party that's beginning to sound and look like a pack of moonshiners. they don't like those revenuers. this is "hardball,"...
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a debt ceiling crisis, charges of being a foreigner, and total war on health care reform. well, now the president isn't asking anymore, he's demanding. you know what? it may just work. >>> beating the neocons at their own game. the neoconservative industrial complex put all its weight behind defeating chuck hagel. it looks like they're going to lose. could it be the neocons are a spent force? could we be that lucky? >>> and back in the ussr. yet another republican cites the soviet threat. they're still fighting the cold war. they want the cold war i guess. that's in the "sideshow" where i hope it stays. >>> let me finish with my own thoughts about alcoholism and addiction and how it tragically struck down one of the most prominent political families in our nation's history. and this is "hardball," the place for politics. ve decided to put aside our rivalry.ed to 'cause all our states are great. and now is when the gulf gets even better. the beaches and waters couldn't be more beautiful. take a boat ride or just lay in the sun. enjoy the wildlife and natural beauty. and don
a debt ceiling crisis, charges of being a foreigner, and total war on health care reform. well, now the president isn't asking anymore, he's demanding. you know what? it may just work. >>> beating the neocons at their own game. the neoconservative industrial complex put all its weight behind defeating chuck hagel. it looks like they're going to lose. could it be the neocons are a spent force? could we be that lucky? >>> and back in the ussr. yet another republican cites the...
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we already hit the debt ceiling that isn't commonly realized. the question do you want to draw a line there and mess around with a market reaction or draw a line on funding the government? if you're not going to fund the government our option is to shut down the government. if you want to resort to drastic measures talk about a threat to shut down the government, not a threat to default on america's debt. that is interesting choice republicans will talk about over the next few days. the white house would prefer to have none of the above. tracy: right. >> if you're going to use leverage, which is the smartest leverage to use. tracy: talk about that. is it legal for treasury to prioritize its bills basically? regardless what happens, we're probably still going to make our interest payments aren't we? >> that is kind of the argument that emerged in the last couple days. republicans are saying look there is no threat of default here. if we hit the debt ceiling it means the government can only spend as much revenue coming in on any given day. you can
we already hit the debt ceiling that isn't commonly realized. the question do you want to draw a line there and mess around with a market reaction or draw a line on funding the government? if you're not going to fund the government our option is to shut down the government. if you want to resort to drastic measures talk about a threat to shut down the government, not a threat to default on america's debt. that is interesting choice republicans will talk about over the next few days. the white...
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debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new spending. so not raising the debt ceiling is sort of like a family trying to improve its credit rating saying, i know how we can save money, we won't pay our credit card bills. not the most effect of way to improve your credit rating. >> ben bernanke says the u.s. economy appears to be willing to raise the debt ceiling. it's downplaying fierce that this could lead to higher inflation. >>. >> what do you think? >> well, i think, you know, what we've seen in the beginning of the year, like the solution of the fiscal cliff for the
debt ceiling. i love the debt clock. it's almost as fast as the amount of money they're going to earn tr nike. >> and is we'll talk about that. >> meanwhile, fed chairman ben bernanke speaking monday warned the u.s. economy isn't out of the woods yet and is still at risk from political gridlock. >> raising the debt ceiling, which congress has to do periodically, gives the government the ability to pay its existing bills. it doesn't create new deficits, it doesn't create new...
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ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt ceiling. that's an automatic. we should move forward and talk about how we create jobs. by creating jobs we reduce the deficit. >> jennifer: i'm take taking it as an encouraging sign that the tea party can be moved by public voices. if they can be moved on the debt ceiling of all things, maybe they could be moved on guns. you wrote in the "huffington post," advocating reducing defense spending so you can spend more money and invest in the united states. the question is in the negotiations in congress over the spending do you see that happening? >> we've go
ceiling. >> we've always raised the debt ceiling. we should pay our bills as the president said, we're not a dead-bet country. i'm glad they finally saw the light. we need to pay our bills and move forward. there is a stronghold of 75 republican tea party members who quite frankly do listen to the tea party in many ways, and hopefully this is a signal that they too need to understand that this should not be an issue. it should not be held honestly. hostage. we should raise the debt...
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next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their strategy in this debt ceiling fight but will this no budget, no pay thing work to address our physical problems? joining us now, douglas holtz-eakin, president of the american action for rim. rich is talking about we're basically punting the debt ceiling three months. should the republicans drop the debt ceiling fight all together and focus on sequester, continuing resolution? they probably have more room to fight? >> getting it in this order, putting debt ceiling last, other bills first is to their advantage because they're fighting about spen
next few months, with this debt ceiling fight. and try to extract more spending cuts out of democrats over the next few months. but again it has become clear through this strategy, appears we're going to have these spending and budgeting fight pretty much every few months in washington, as no long-term strategy is yet to emerge. back to you. ashley: you're thrilled by that, rich edson, thanks so much. tracy: poor guy. all right, let's talk more about that. house republicans laying out their...
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this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution, they do not get their pay with help. they are not paid until the end of this congress. republicans say they feel hopeful and optimistic that this thing will pass. a number of republicans are saying that it will pass. we will be watching that today. as for the u.s. senate and white house, they have not ruled out this proposal. they are fine with a short term debt ceiling increase. they want to see some longer-term. they have not given it exactly a seal of approval. it seems they both parties could get behind this proposal. the first step through the u.s. house. back to you. dagen: thank you for that. let's bring in our laffer, former economic adviser to president ronald reagan. politicians will never get anything serious done. >> you are probably right. they probably will not get a lot done in the long run. the debt ceiling is one tool to get a little from the democrats and bring some spending down. th
this bill would extend the debt ceiling until may 19. it requires the house and senate to pass a budget. if they pass a budget resolution, they do not get their pay with help. they are not paid until the end of this congress. republicans say they feel hopeful and optimistic that this thing will pass. a number of republicans are saying that it will pass. we will be watching that today. as for the u.s. senate and white house, they have not ruled out this proposal. they are fine with a short term...
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: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its bills sometime around mid- february or early march. so with a month of so to go, there is no solution in sight. darren gersh, washington, d.c. >> tom: federal reserve chairman ben bernanke echoed the president's comments on the debt ceiling today, in a speech at the university of michigan, he said congress has to take action to avoid a situation where our government doesn't pay its bills. ahead of that, stocks were mixed, the blue chip dow rose almost 19 points, while the nasdaq dropped eight, and the s&p 500 down a point. >> susie: weighing on the nasdaq today: apple. the stock got crushed, on wo
: markets are almost treating the fight over the debt ceiling as the sequel to a bad movie. and investors have a pretty good feel for how this cliffhanger ends. >> they don't really care about the brinksmanship until they are right up to the brink, but also, the more dangerous the fall, off the brink, they figure the less likely that it's going to happen. >> reporter: treasury secretary timothy geithner told congress today that unless it acts, the nation will not be able to pay its...
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he a likening that to a refusal to raise the debt ceiling. it resonates to people who can understand the debate in their own language in some ways. >> glenn, do you think the people in the tea party are paying the bill or not paying the bill or saying yes to spending? the way they look at it. >> i think what they think is they're looking at a different set of polls that say a significant portion of the electorate cares about deficit reduction. the problem is none of those polls are taken in isolation. i think nia is completely right. the obama people have continued polling, polling, polling, polling. and they feel they've got the public on their side. and their choice of words. for instance, the president talked about education. education polls well amongst women. they know what they're doing when they play the outside game. >> well said. thank you so much nia-malika henderson, welcome back to "hardball." and glenn thrush. >>> remember them chasing the revenuers out of town? you're watching "hardball," the place for politics. aww man. [ male
he a likening that to a refusal to raise the debt ceiling. it resonates to people who can understand the debate in their own language in some ways. >> glenn, do you think the people in the tea party are paying the bill or not paying the bill or saying yes to spending? the way they look at it. >> i think what they think is they're looking at a different set of polls that say a significant portion of the electorate cares about deficit reduction. the problem is none of those polls are...
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one is the debt ceiling. the other is the cr that comes due on march 27th. the cr might be a the better place to use that leverage. but one place or another we need to decide that both sides need to come together at the table of common sense and begin to put america on a sustainable course of economics. >> what does a guy like you say then to the tougher parts of the republican party? not as many are in the senate as in the house. you talk about simpson bouls. i agree. most americans would find simpson/bowles a little tough. there are some difficult things in there most republicans and democrats wouldn't even put forward. the vice presidential candidate, paul ryan, was one of those guys on that committee and didn't vote for it. how do we get hard line republicans to say these are tough decisions, they're not going to be palatable, they're way further than most republicans would go in terms of debt spending cuts? >> ali, we have a tough problem. whatever solutions we come up with are going to be tough. but i would prefer tough solutions to a tough situation t
one is the debt ceiling. the other is the cr that comes due on march 27th. the cr might be a the better place to use that leverage. but one place or another we need to decide that both sides need to come together at the table of common sense and begin to put america on a sustainable course of economics. >> what does a guy like you say then to the tougher parts of the republican party? not as many are in the senate as in the house. you talk about simpson bouls. i agree. most americans...
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also powering the rally, news that washington lawmakers passed a short term debt ceiling deal. the u.s. house of representatives gave the okay to a republican plan to suspend the debt limit until may 19. democrats in the senate now say they'll pass it too. darren gersh reports. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do. >> this bill simply says, "congress, do your job." when i grew up in wisconsin, if you had a job and you did the work, then you got paid. if you didn't do the work, you didn't get paid. it's that simple. >> house democrats called the pay ploy a gimmick and said a 90 day reprieve from default simply moves the crisis back. >> for the last two years, we've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling
also powering the rally, news that washington lawmakers passed a short term debt ceiling deal. the u.s. house of representatives gave the okay to a republican plan to suspend the debt limit until may 19. democrats in the senate now say they'll pass it too. darren gersh reports. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do....